Strides Arcolab has posted a standalone net profit of Rs. 69.66 crore during the quarter ended March 2015 as against a net loss of Rs. 48.27 crore in the corresponding period of last year mainly due to exceptional income of dividend from its subsidiaries. It received dividend of Rs. 56.25 crore during the quarter ended March 2015 as against nil in the last period. Its total exceptional income worked out to Rs. 47.08 crore as against loss of Rs. 110.04 crore.  Its standalone EBIDTA declined by 3.6 per cent to Rs. 62.84 crore from Rs. 65.20 crore due to lower other income. Its other income declined to Rs. 20.08 crore from Rs. 35.28 crore.

The company's standalone net sales were under pressure and declined marginally to Rs. 240.18 crore from Rs. 242.36 crore in the same quarter of last year. Similarly, its consolidation sales also remained stagnant at Rs. 340 crore. The board of directors has recommended equity dividend of Rs. 3 per share for year 2014-15. In October 2014, the company declared special dividend of Rs. 105 per share.

Arun Kumar, founder and Group CEO, said, “The quality of business and profitability has been the hallmark of our FY2015 performance. The merger with Shasun and re-entry into the Australian market will make us a fully integrated global pharmaceutical company with size and scale. Investments in R&D and portfolio maximization will be our key priorities going forward.”

The company has changed its financial year from January-December 2013 to 15 months period ended January-March 2014. Thus the figures are not strictly comparable.

The company's consolidated net sales for the year ended March 2015 reached at Rs. 1,132 crore as against Rs. 1,258 crore in the 15 months period ended March 2014. Its sales in North America reached at Rs. 425.5 crore which worked out to 35 per cent of its total revenues. It launched 5 new products in the US under Strides label. Its sales to Institutional customers reached at Rs. 386.5 crore and contributed 32 per cent to its total sales. Emerging market sales amounted to Rs. 407 crore and these sales worked out to 33 per cent of total sales.

It's consolidated net profit worked out to Rs. 843.43 crore as against Rs. 2,000 crore in the 15 months period ended March 2014 due to gain on disposal of long term investments and other adjustments.

Its R&D expenditure amounted to Rs. 32.9 crore as compared to Rs. 20.30 crore in the last period. The company commissioned its new dedicated global R&D Centre at ODF facility, Bengaluru. Its cumulative ANDA filings reached at 33 with 16 ANDAs awaiting approval from US FDA. Its biotech R&D expenditure reached at Rs. 7.90 crore. Its two products have reached at the animal toxicity study stage during FY15.

The foreign exchange loss amounted to Rs. 13.21 crore as against a gain of Rs. 56.67 crore in the previous year.  Its total exceptional expenses worked out to Rs. 7.38 crore from continuing operations as against of Rs. 26.55 in the previous period. Further, the company has shown Rs. 843.43 crore as gain on disposal of long term investments as compared to Rs. 3,222.28 crore in the previous year on account of disinvestment of specialty products business to Mylan Inc. It has shown tax expenses of Rs. 798 crore in the previous year.

The board of directors has approved a scheme of amalgamation between the company and Shasun Pharmaceuticals. Each equity shareholder of Shasun will be entitled to receive 5 equity shares of the company in lieu of 16 equity shares held in Shasun. Shasun shareholder will hold 26 per cent of the combined entity. The appointed date for the scheme is April 1, 2015. The company is awaiting few approvals. The Group acquired Indian branded generic business of Bafna Pharmaceuticals for a total consideration of Rs. 65.50 crore.

The Strides Group has acquired balance stake of 60 per cent in Strides Actives Pvt Ltd thereby making it a wholly owned subsidiary. The company has changed the name of Strides Actives to Strides healthcare Pvt Ltd. Further, The Group has acquired 90 per cent stake in Fagris Medica Pvt Ltd. It incorporated Altima Innovations Inc., USA and it wound-up Strides Australia Ltd, Australia and Plus Farma ehf, Iceland.

Recently, it signed definitive agreements to acquire a generic pharmaceutical business in Australia and related assets from Aspen for approximately A$380 million.